Nebraska § 71-5325 Loan terms

Nebraska Statutes

§ 71-5325 — Loan terms

Nebraska·Ch. 71 Public Health and Welfare

Loan terms shall include, but not be limited to, the following:

(1)The term of the loan shall not exceed thirty years, except for systems serving disadvantaged communities which term may not exceed forty years;

(2)The interest rate shall be at or below market interest rates;

(3)The annual principal and interest payment shall commence not later than one year after completion of any project; and

(4)The loan recipient shall immediately repay any loan when a grant has been received which covers costs provided for by such loan.

Free access — add to your briefcase to read the full text and ask questions with AI

Loan terms shall include, but not be limited to, the following:
(1) The term of the loan shall not exceed thirty years, except for systems serving disadvantaged communities which term may not exceed forty years;
(2) The interest rate shall be at or below market interest rates;
(3) The annual principal and interest payment shall commence not later than one year after completion of any project; and
(4) The loan recipient shall immediately repay any loan when a grant has been received which covers costs provided for by such loan.

Nebraska § 71-5325 (Loan terms) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.